72 Days ago

Payment Data Systems and University Fancards have partnered to create a unique university-branded consumer reloadable prepaid card and banking alternative.

SAN ANTONIO, Texas, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Payment Data Systems, Inc. (NASDAQ: PYDS) and its prepaid card subsidiary, FiCentive, Inc., are excited to announce a partnership with University Fancards, providers of university-branded gift and reloadable prepaid cards. Initially, FiCentive will support Fancards’ consumer reloadable card program, including the card program management, processing, and development of web and mobile applications. Consumer reloadable card programs are employed by millions of consumers in the U.S. as an alternative to traditional banking and as a budgeting tool that works with an existing bank account. The FiCentive-enabled solution will also offer the ability for cardholders to order and manage multiple cards to facilitate household allowances and specific budgets.

“We’re extremely excited about this partnership,” commented Kyle Ruschman, FiCentive’s new VP, Enterprise Prepaid Solutions. “The Fancards team has partnered with some of the biggest names in college sports, and the program provides a whole new way for the schools’ loyal and enthusiastic fanbase to show support. The card is an awesome solution for managing household expenses and allowances.”

“After seeing what the FiCentive team had built for its own reloadable card solution, Akimbo, we knew we had found a technology driven and innovative partner,” said Greg Boggs, Fancards’ co-founder and EVP of Operations. “This partnership will allow Fancards to continue our mission to develop game-changing products and bring a first-class user experience to cardholders. FiCentive provides capabilities and technology that we believe makes them an industry leader.”

FiCentive’s platform offers a unique set of products and services, including the ability to support multiple cards under a single consumer account, as well as enabling real-time issuance and provisioning of branded cards to Apple Pay, Google Pay and other mobile wallets, instantly after a customer enrolls.

“This is an exciting partnership for us,” said Houston Frost, SVP of Prepaid Products. “Through the FiCentive platform we will be able to brand 50+ different card designs in mobile wallets, and enable real-time issuance through a mobile device. Fancards will be able to leverage our technology to instantly deliver digital prepaid cards to a stadium full of fans during a football game, something completely new to the industry.” Houston continued, “Undoubtedly, the Fancards team is just as enthusiastic as their customers are about the product.”

“I think we have found a partner that provides a rare mix of nimbleness and stability,” said Lynn Boggs, co-founder and CEO of Fancards. “FiCentive offers the agility and speed of a startup, with the backing of its parent company, Payment Data Systems.”

The university-branded gift and reloadable prepaid cards can be found at ufancards.com.

About University FancardsUniversity Fancards, known as “The Official Prepaid Card of College Sports™” and “The Official Gift Card of College Sports™”, was founded in 2015 and is headquartered in Birmingham, Alabama. Fancards is the leading provider of collegiately licensed gift cards and prepaid reloadable cards, with distribution in over 15,000 major retail stores. Fancards has teamed up with over 20 of the most prestigious college brands in the country, including the Alabama Crimson Tide, Florida Gators, Michigan Wolverines, Michigan State Spartans, Tennessee Volunteers, Texas A&M Aggies, Texas Longhorns, and many more, to create exciting prepaid products that let fans “Pay with Pride” everywhere they go. For more information, including Fancards’ full list of teams and announcements featuring new schools being added, please visit ufancards.com.

About FiCentive FiCentive has been a wholly owned subsidiary of Payment Data Systems, Inc. since 2008. FiCentive delivers turnkey and customizable prepaid, incentive, disbursement and corporate expense card solutions for businesses in the US. Website: ficentive.com

About Payment Data Systems, Inc.Payment Data Systems, Inc. (NASDAQ:PYDS), is a leading integrated payment solutions provider, offering a wide range of services to merchants, billers, banks, card issuers and software companies. The Company operates credit, debit, prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Payment Data is headquartered in San Antonio, Texas, and has offices in Long Beach, California, and Nashville, Tennessee.

Forward-Looking Statements DisclaimerExcept for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as "believe," "intend," "look forward," "anticipate," "schedule", and "expect" among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including such risks related to the realization of the anticipated opportunities from the Singular acquisition, the management of the Company's growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of our stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2017. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

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